Articles by Tia Thomas

ETFs, LICs

Monash converts Australian equities LIC

Monash LIC ETMF

Monash Investors has restructured its Australian equities listed investment company into an exchange-traded managed fund.

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ATO, Insurance

Prior insurance vital for collectables

collectable assets

Trustees who invest in collectable and personal-use assets inside an SMSF are being advised by the ATO to consider insurance before purchasing the asset.

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ATO

ATO updates valuation guidelines

ATO valuation guideline

The ATO has released a new guideline for the valuation of assets, and reminds SMSFs to stay on top of their reporting obligations in a number of key areas.

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Pensions, Superannuation

Political motives for drawdown rate extension

minimum pension drawdown rates

The SMSF sector has welcomed the decision to extend the reduction on minimum pension drawdown rates, despite its election-focused nature.

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Financial Planning, Regulation

AFA questions disciplinary body remit

AFA disciplinary body

The AFA has recommended the new single disciplinary body not review administrative and minor matters to avoid cost blowouts in adviser regulation.

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Education, FASEA

New FASEA course for accountants

accountants FASEA exam

Accountants unfamiliar with material covered by the FASEA exam are being offered specialised help to prepare for the remaining exams of 2021.

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AFCA, Appointments

AFCA appoints new ombudsmen

AFCA appoints ombudsmen

The Australian Financial Complaints Authority (AFCA) will welcome two new lead ombudsmen in August for the insurance and small business sectors.

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ASIC, Financial Planning, Insurance

ASIC moves on AMP over deceased client fees

AMP fees deceased customers

ASIC has started legal action against five AMP companies in regards to claims they charged advice fees and insurance premiums to dead customers.

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ASIC, Financial Planning

“Stupid” adviser gets six years’ jail

SMSF adviser jail

An investigation by ASIC has found a former Sydney financial adviser used his clients’ SMSF money to fund his holidays and other personal loans for almost three years.

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Investments

Young investors acting without advice, strategy

young investors

Vanguard research has found many younger investors don’t have a financial plan or sufficient knowledge to take action.

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